Smurfit Kappa raises equity for best or worst of times

By Sam Kerr
20 Nov 2020

Smurfit Kappa, the Irish packaging company, priced a €660m capital raise on Thursday night, to allow it to take advantage of market opportunities during the Covid-19 recovery, as well as give it the firepower to withstand any downturns.

BNP Paribas, Credit Suisse and Davy stockbrokers were the bookrunners on the deal.

Smurfit Kappa sold 19.4m shares on the Dublin and London stock exchanges at €34 each. The final offer price a 5.76% discount to the closing price.

The deal was launched at just after ...

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